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Indonesia Has 12 Unicorn Startup Titles in 2021, New Members Appear at the End of the Year

Kopi Kenangan adds to the lineup of Indonesian unicorns at the end of 2021

The end of 2021 brings a surprise to the actors and startup enthusiasts. How not, various startups have been crowned as unicorns this year. Based on data from DailySocial.id Annual Report 2021, it is recorded that a total of 11 Indonesian startups have become Unicorns in 2021. This number has doubled from the previous year. From report Startup Report 2020, in 2020 alone, Indonesia only has 5 unicorn startups, namely Tokopedia, Gojek, Traveloka, Bukalapak and OVO. However, seven Indonesian startups have now joined the unicorn startup ranks in 2021.

Unicorn itself is the 4th level of the startup business level. At the Unicorn level, the valuation value used as an indicator is USD $ 1 billion - USD $ 10 billion, or if converted into IDR 10,47 trillion.

Several startups that have become unicorns in 2021, were startups at the centaur level the previous year. Here are 11 Indonesian startups that have reached unicorns:

1. GoTo

GoTo is a startup merger between Gojek and Tokopedia. PT GoTo Gojek Tokopedia was founded on May 17 2021 with a focus on the information technology industry. GoTo combines e-commerce, on-demand and financial services into one ecosystem.

November this year, GoTo Group announced the first close of the pre-IPO fundraising of more than $1,3 billion (over 18,5 trillion Rupiah) from various investors.

2. Traveloka

Traveloka itself had the status of a unicorn in 2017, when it pocketed an investment of USD350 million from Expedia. Founded in 2012, Traveloka has developed various products, becoming the first non-fintech startup to implement a “buy now, pay later” paylater.

3. Bukalapak

Bukalapak is an Indonesian e-commerce company that was founded in 2010. Bukalapak succeeded in becoming a unicorn in the same year as Traveloka, with a valuation of USD 1 billion or around Rp. 14 trillion.

year 2021, Bukalapak reportedly raised $234 million (over 3,4 trillion Rupiah) in a Series G funding round led by Microsoft, Singapore sovereign wealth fund GIC, and EMTEK.

4. OVO

In 2019, OVO managed to become a unicorn startup. Finance Asia mentions OVO . valuation when crowned a unicorn it has reached $ 2,9 billion (more than 40 trillion Rupiah).

As a company that leads the digital payment industry with GoPay, OVO clearly processes a very large turnover of funds reaching trillions of Rupiah per year.

5. JD.id

In early 2020, JD.id had reached a company valuation of more than US$1 billion and added to the ranks of unicorn startups at that time. JD.id is one of the e-commerce sites in Indonesia and is part of JD.com which is headquartered in Beijing, China.

6. Blibli.com

Blibli.com is the only e-commerce to achieve unicorn status this year. As of August 2021, blibli.com has reached a valuation of 1 billion US dollars. Founded in 2010, it took about 11 years for blibli.com to reach the 4th level of this startup business level.

7. Tiket.com

Following its competitor, Traveloka, Tiket.com finally became a unicorn in early 2021.

Tiket.com was founded in 2011 and acquired by Djarum Group through Blibli in 2017. Currently, both are still operating with separate legal entities (PT), so it is possible if Tiket.com holds an IPO first.

8. J&T Express

early 2021, J&T Express has become a unicorn with a valuation of up to 7,8 billion US dollars or the equivalent of IDR 113,5 trillion. J&T Express occupies the second position as an Indonesian unicorn startup with the largest valuation after Gojek.

J&T Express is a logistics delivery partner for a number of large e-commerce, including, Tokopedia, Bukalapak, Blibli, Shopee, and JD.id.

9. Kredivo

Kredivo is a startup under the auspices of PT FinAccel Teknologi Indonesia and was established in December 2015. Kredivo has a rapid performance and growth in less than 6 years since its establishment, thus attracting the attention of investors.

Same with blibli.com, Kredivo become a unicorn in mid 2021.

10. Xendit

September 2021, Xendit announces the results series C pendanaan funding worth $150 million or equivalent to 2,1 trillion Rupiah. This round also cemented the company's valuation above $1 billion and made Xendit the next "unicorn" startup in Indonesia.

Previously, Xendit closed its $64,6 million Series B funding round in March 2021, led by Accel. With this new acquisition, they have raised IDR 3,4 trillion ($238 million) in total since the first round in 2015.

11. Magic

Just like its name, Ajaib managed to become a unicorn startup in just 2,5 years. Ajaib takes the title of unicorn after closing a $153 million (over 2,1 trillion Rupiah) series B round led by DST Global. This funding bringing the total amount Magic collected to $243 million. Magic itself has had 1 million retail investors shares, since it was first established two and a half years ago.

 

Closing the year 2021, a surprise emerged from one of the startups whose business base is a coffee shop, namely Kopi Kenangan. December 2021, Kopi Kenangan becomes the first “Unicorn New Retail” in Indonesia.

Memories Coffee announced that it has closed its first round of Series C funding of $96 million or equivalent to IDR 1,3 trillion. With this additional investment fund, the company also announced that it has reached the "unicorn" milestone or is valued at more than $1 billion. With this, Kopi Kenangan adds to the list of Indonesian unicorn startups.

Not only have they become unicorns, several other startups have also become centaurs this year. To find out more information about startups throughout 2021, visit DailySocial.id Annual Report 2021!


Disclosure : This article was written by Masni Rahmawatti. S

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